The Truth of the Matter

Agents have long been viewed with suspicion and while certain misgivings are occasionally justified, it is often not the agent attempting to pull the wool over a buyer’s eyes, but rather the seller who has been sparing with the truth. The Consumer Protection Act (CPA), however, is going to change the way that agents do business. As things stand, the Act does not apply to a seller who does not ordinarily sell property for a living. Estate agents on the other hand do and if the courts find that an agent has neglected to disclose pertinent information and facts then agents can be held responsible which could, in the worst case scenario, lead to the sale being overturned. It appears that agents are no longer going to be able to take the sellers word for it and they are going to have to delve into the property’s history to ensure that everything that the seller has stated is true.

Until such time when agents are compelled to dive into the property's history, it would be wise for potential home buyers to conduct their own home inspection by making use of a professional home inspection company. 

As you can see the seller will not always disclose the information to the agent, and unless the agent conducts a thorough investigation, some defects will not be exposed. At this stage most sellers are not bound by the Consumer Protection Act, and the agent can claim that the seller did not inform his/her when a case goes to court. 

For more information about home inspections